Bitcoin Cash celebrates its first birthday

02 Aug, 2018
by Manon Bridou-Koenig
News
Bitcoin Cash celebrates its first birthday

The Bitcoin Cash network officially launched 12 months ago today. It started from a hardfork of the original Bitcoin blockchain, and now is the 4th biggest cryptocurrency by market cap. 

The history that led to the emergence of Bitcoin Cash started before 1st of August 2017 when some members of the Bitcoin community including Roger Ver felt that adopting BIP 91 without increasing the block-size limit favored people who wanted to treat Bitcoin as a digital investment rather than as a transactional currency, creating a hard fork to increase the blocksize.

Roger Ver, owner of Bitcoin.com, is now the biggest promoter of Bitcoin Cash, even if he was tweeting about BCH back in 2017 with skepticism, partly due to his involvement in an earlier fork, Bitcoin Unlimited (BU).

Ver strongly supported BU and, at one point, even claimed he would sell his BTC holdings in favor of the forked coin. However, once Bitcoin Cash was launched, he seemed to jump on the bandwagon.

However, once Bitcoin Cash was launched, Ver has seemingly pushed an anti-BTC agenda, beginning with claims that Bitcoin Cash is the ‘real Bitcoin’ in November 2017.

As a fork of the Bitcoin blockchain, users that held Bitcoin received an equal number of Bitcoin Cash at the time of the fork.

A few fans on crypto Twitter have taken the opportunity to commemorate the occasion and look back on the way it has changed the world of blockchain and cryptocurrency, as well as looking forward to what the future will hodl.

Bitcoin Cash (BCH) is currently ranked number four by market capitalization, with over $13 billion. However, BTC still holds a massive 47 percent of the total crypto market cap. At the time of writing, 1 BCH token is worth $729.

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